ADDvantage Technologies Appoints Colby Empey as President of the Wireless Segment
February 27 2019 - 8:30AM
ADDvantage Technologies Group, Inc. (NASDAQ: AEY),
today announced it has appointed Colby Empey President of the
Wireless Segment. In this position, Mr. Empey will oversee the
operations of Fulton Technologies (“Fulton”), reporting into Joseph
Hart, President and CEO of ADDvantage Technologies.
The Company acquired Fulton Technologies in
January 2019, allowing it to start offering comprehensive wireless
infrastructure services to U.S. wireless carriers across the
Southwest, Midwest and Northern Plains regions, as well as to the
national integrators and the original equipment manufacturers
(“OEMs”) that support these wireless carriers. Colby Empey served
as Chief Operations Officer at Fulton Technologies since January
2017. During his time at Fulton Technologies, he led the wireless
division in multiple markets, broadened the range of customers it
serviced to include more specialty work with wireless carriers, and
drove its expansion into Texas and Oklahoma. In his role at
ADDvantage Technologies as President of the Wireless Segment, Mr.
Empey will continue to drive growth at Fulton, as well as oversee
the integration of the Mill City Communications, Inc. assets into
the wireless services segment, which were acquired by the Company
alongside the Fulton Technologies assets.
Prior to joining Fulton Technologies, Mr. Empey
was Director of Business Development at Paragon Facilities Group
where he was responsible for expanding its services specifically in
the SWR with an initial focus on Texas. From 2015 – 2016 he served
as Vice President of Business Development at Xcell Inc., a
telecommunications services business, where he oversaw
approximately 115 employees generating $22M in revenue in 2015,
with $8M coming from new customers. From 2008 – 2015, Mr.
Empey served as Vice President of Operations for the Southwest at
Goodman Networks where his responsibilities included negotiating
contracts with new vendors to handle site acquisition and
engineering, building the first trial market for testing and
analyzing LTE performance and commercially launching 3 of the first
5 LTE markets. Mr. Empey started his career as a Real Estate and
Construction Manager at AT&T Mobility and a Field Engineer at
Bechtel Corporation.
Joe Hart, President and CEO of ADDvantage
Technologies, said, “Colby has a strong track record of building
successful teams, entering new markets and generating revenue
growth. His leadership and business development experience, coupled
with his intricate knowledge of the wireless services market from
his decades in the industry, make him uniquely positioned to
continue to lead Fulton Technologies and oversee its integration
into ADDvantage Technologies. When Colby started at Fulton in early
2017, it had no revenue or employees in Texas. Colby successfully
grew the market to generate approximately $7M in revenues in Texas
during his first year. He led the Company to generate total
wireless revenue of just under $20M with 125 employees in 2018. We
are pleased to welcome him to ADDvantage Technologies and believe
he will be a valuable asset to the Company as we continue to build
the value of our business.”
Colby Empey, President of the Wireless division,
commented, “Fulton Technologies has multi-year contracts with the
four major U.S. wireless carriers and the major wireless equipment
manufacturers, as well as contracts with all of the major wireless
Telecom integrators. Now that we are part of ADDvantage
Technologies, we aim to build on this strong foundation to make
strategic improvements that will further strengthen this business.
I am pleased to lead the wireless segment at this exciting time in
its growth and look forward to working with the ADDvantage
Technologies team to deliver increased resources to our blue chip
customer base in the industry.”
Mr. Hart concluded, “This appointment follows
the promotion of Don Kinison from V.P. of Sales to President of the
Telecommunications Segment. Don has over 20 years of sales
experience in the telecommunication, software, and cloud
industries. During his time at ADDvantage Technologies he has
demonstrated sales leadership experience and the commercial acumen
to effectively tap into new and existing customer relationships.
Recently, Don led the move of Nave Communications’ warehousing and
inventory fulfillment operations to Palco Telecom, a third-party
logistics company, which will allow Nave to streamline its
inventory and order fulfillment operations, improve shipping times
across the U.S., and serve a much wider geographic customer
base. In addition, he is also leading Triton Datacom’s
efforts to expand their refurbishment business and sell its
equipment products into the telephone carrier market. We are
pleased to expand his role within the organization. The
appointments of Don and Colby reflect our increased focus on
growing the Telco and Wireless segments, ahead of the planned
divestiture of the Cable TV segment which is anticipated to happen
later this year.”
About ADDvantage Technologies Group, Inc.
ADDvantage Technologies Group, Inc.
(NASDAQ: AEY) supplies the cable television (Cable TV) and
telecommunications industries with a comprehensive line of new and
used system-critical network equipment and hardware from a broad
range of leading manufacturers. The equipment and hardware
ADDvantage distributes is used to acquire, distribute, and protect
the communications signals carried on fiber optic, coaxial cable
and wireless distribution systems, including television
programming, high-speed data (Internet) and telephony. Through the
acquisition of Fulton, the Company will provide turn-key wireless
infrastructure services, such as the installation and
decommissioning of equipment on cell sites, for wireless carriers,
national integrators, and equipment manufacturers supporting the
wireless carriers. In addition, ADDvantage operates a
national network of technical repair centers focused primarily on
Cable TV equipment and recycles surplus and obsolete Cable TV and
telecommunications equipment. ADDvantage operates through its
subsidiaries, Tulsat, Tulsat-Atlanta, Tulsat-Texas, NCS Industries,
ComTech Services, Nave Communications, Triton Datacom, and Fulton
Technologies. For more information, please visit the corporate web
site at www.addvantagetechnologies.com.
The information in this announcement may include
forward-looking statements. All statements, other than
statements of historical facts, which address activities, events or
developments that the Company expects or anticipates will or may
occur in the future, are forward-looking statements. These
statements are subject to risks and uncertainties, which could
cause actual results and developments to differ materially from
these statements. A complete discussion of these risks and
uncertainties is contained in the Company’s reports and documents
filed from time to time with the Securities and Exchange
Commission.
For further information |
KCSA Strategic Communications |
Company Contact: |
Elizabeth Barker |
Scott Francis (918) 251-9121 |
(212) 896-1203 |
|
ebarker@kcsa.com |
|
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